Welcome to your weekly roundup of the latest in fasteners—industry news, trends, upcoming events, and scholarships. Let’s dive into this week’s episode of In the News with Fastener News Desk reporting the latest news making headlines the week of August 19, 2024.
Watch now on FastenerTV at Youtube: (13:15)
IN THE NEWS…
A potential strike at U.S. seaports on the East Coast and Gulf of Mexico could back up cargo there for weeks or even months, shipping experts say. Those findings echo an advisory from Maersk, one of the largest providers of ocean transportation, stating that a one-week shutdown could require up to six weeks of recovery time, “with significant backlogs and delays compounding with each passing day.” The early shipping strategy has come with a hefty cost to shippers. The off-contract spot market price to send a 40-foot container to the U.S. East Coast from the Far East topped $10,000 in early July, up from around $2,100 in early April 2023. https://www.reuters.com/business/possible-us-seaport-strike-could-back-up-goods-months-shipping-experts-say-2024-08-14/
Würth Industry Officially Opens Warehouse and Offices in México. With this new location Wurth is expanding and preparing for existing and future growth with their customers. The Wurth team from the northern zone gathered at this celebration and were accompanied by special guest Larry Stevens, Executive Vice President of the Würth Group.
One Equity Partners, a middle market private equity firm announced that it has completed the sale of ORS Nasco. Financial terms of the private transaction were not disclosed. https://www.businesswire.com/news/home/20240808003279/en/One-Equity-Partners-Completes-Sale-of-ORS-Nasco
The 2024 Inc. 5000 annual list of the fastest-growing private companies in America was announced. The prestigious ranking provides a data-driven look at the most successful companies within the economy’s most dynamic segment—its independent, entrepreneurial businesses. Congratulations to the following fastener companies made the prestigious list:
- Patriot Bolt Ranked No.757 with 641% 3-Year Growth. Specialists in custom machined fasteners produced to customer specification, offering limitless possibilities in design, thread pitch, size and configuration. Patriot also ranked No. 1716 (2023), No. 1172 (2022)
- Goebel Fasteners, Inc. Ranks No. 1340 with 385% 3-Year Growth. With Three-Year Revenue Growth of 385% Percent, Goebel Fasteners, Inc. Ranks No. 1340 Among America’s Fastest-Growing Private Companies.
- Field Fastener Supply Company Ranked No.4,924 with 75% 3-Year Growth. Manufactures and distributes fasteners that are used with industrial applications. Also provides consulting services to these companies so they can reduce costs. (No. 4689 (2020), No. 4216 (2017), No. 3933 (2016), No. 4009 (2015), No. 4618 (2014), No. 3498 (2013), No. 4149 (2012), No. 3944 (2011)) & Inc. 5000’s Best-Workplaces in 2021
Threadheads and FasteNerds Tune in to Fully Threaded Radio Episode 203 – More Threads. Join hosts Eric Dudas & Brian Musker and their guests: Fastener industry 50-year veteran and Goebel Fasteners national sales manager Sam Underwood explains what makes a great distributor & Birmingham Fastener & Supply CEO Brad Tinney discusses sudden dip in the FDI. Tune in at FullyThreaded.com Don’t miss the
- Don’t miss the FTR SPECIAL REPORT: Chiracosta Wins Form Fit & Function Award / FSTNR Week ’24!
The Fastener Distributor Index fell below 50 for first time since January. The July seasonally adjusted FDI declined to a reading of 47.5 compared to 52.1 in June. This was the first sub-50 reading since January, indicating contraction in market activity. The Forward-Looking Indicator also back below 50, reading 49.6. Read more:
Endries International has been chosen as a finalist in the Constellation Research SuperNova Awards program. This is the 14th year of the program which recognizes organizations, teams, and leaders who have triumphed over challenges to successfully implement disruptive technologies.
The category the Endries project was nominated for is the “Future of Work: Employee Experience. This recognizes organizations that view the workforce as a competitive asset and apply technologies to gain competitive advantage and improve employee effectiveness.
Endries needs our support! VOTE throughout the month of August at https://www.constellationr.com/events/supernova/2024
Read more:
Endries International Finalist in14th Annual Constellation SuperNova Awards
Submitting your Press Release is easy peasy! In today’s fast-paced, content-driven business world the need to deliver your company’s message is more important than ever. Submit your press release now! FastenerNewsDesk.com https://www.fastenernewsdesk.com/submit-press-release/
FASTENER INDUSTRY VIP’s!
In this new segment we’ll spotlight the dedicated professionals who are driving the industry forward. Whether they’ve received a significant promotion, achieved advanced certifications, or celebrating a significant milestone, these individuals and companies exemplify the pursuit of excellence and innovation in the fastener world.
Join us as we honor their hard work and achievements. Their stories not only inspire us, but also set a benchmark for what’s possible when passion meets expertise.
Meet the industry movers & shakers making this week’s episode of ‘IN THE NEWS’
- BlackHawk Announces Strategic Leadership Appointment to Fasteners Division, Bob Miller as General Manager – Fasteners
- AFC Industries Appoints Joe Shoemaker New Vice President of Marketing for North America
- Rugged Nuts 5K 2024 “Unofficial” start to the 2024 Mid-West Fastener Association FSTNR Week!
- The Naperville Fastener Association named Bob Chiricosta winner of their Form Fit & Function Award / FSTNR Week ’24
FASTENER INDUSTRY EVENTS
THIS WEEK the Midwest Fastener Association’s highly anticipated FSTNR WEEK will take place August 18-21, 2024! The event includes a Sleep in Heavenly Peace Organization Bed Building Event, Plant Tours, Welcome Mixer, Fastener Failures Seminar, the 42nd Annual MWFA Fastener Show, Fastener Bash, & Golf Outing & if that’s not enough there’s Fastener Training Week your chance to become a Certified Fastener Specialist during FSTNR Week! Register today for FSTNR Week 2024! Go to: https://mwfa.net/fastener.htm
Fastener Training Institute’s Fastener Training Week returns to Chicago this year from August 19 to August 23. The event will be hosted by the Mid-West Fasteners Association (MWFA) as part of their annual FSTNR Week. For more info and to register go to fastenertraining.org
Würth Additive Group is Touring the USA on their Demo Days 2024 Tour! If you’re looking to turn a physical part into a digital model you can print on demand, you won’t want to miss the opportunity to meet with the Wurth Additive Group Team! Next stop is scheduled for August 28th in Brooklyn Park, MN For more tour dates and info go to: Demo Day Tour Dates
Join the North Coast Fastener Association and your fastener friends at the annual NCFA Screw Open Golf Outing on September 5th for some friendly competition and enjoy food catered by The Winking Lizard, ice cold beverages, contests and prizes. A perfect way to end the summer season! Registration is open: NCFAonline.com
Join Pac-West Fastener Association for their After-Hours event in Denver, CO – Thursday, September 26, 2024. Stop by and meet other people in the fastener industry and expand your professional network. Pac-West will host two beverages per person along with complimentary appetizers! The event will be held in the Dart Lounge, a private indoor/outdoor space on the main level. Besides enjoying the company of your fastener friends we’ll have Giant Connect 4, Giant Jenga, 3 Dartsee boards, and Cornhole on the patio (weather permitting). Registration: pac-west.org
Manufacturing Day will be celebrated on Friday October 4th. Manufacturers and their partners across the U.S. are gearing up to demonstrate to students, parents, and educators that careers in manufacturing are diverse, high-tech, innovative, well-paying, in-demand and potentially life-changing. Download the Host and Marketing Toolkits to support your planning and messaging leading up to Manufacturing Day 2024. Resources and toolkits available are MFGday.com
Registration is open for the 2024 NFDA Executive Summit in San Diego, CA. Join the NFDA for three days of education, networking, fun, and California sunshine! October 16-18, 2024 Register now: NFDA-Fasteners.org
The Fastener Training Institute is offering an Open House & Lab Tour – Learn about the Mechanical Testing of Fasteners on October 16th at Carver Labs, San Diego, CA as part of the 2024 NFDA Executive Summit. To register go to fastenertraining.org
FASTENER INDUSTRY SCHOLARSHIPS:
The Marc Strandquist Memorial Scholarship Fund will offer one scholarship for Fastener Training Week each year. The deadline to submit your completed application to the NFDA is August 31, 2024. Apply now: NFDA-Fastener.org
The Mid-West Fastener Association (MWFA) educational scholarship is just one of the many membership benefits. Submit your MWFA scholarship at MWFA.net. The application by September 1, 2024.
WIFI Joanne Sherman THORS eLearning Scholarship! Are you looking to enhance your skills in the manufacturing and fastener industry? The Joanne Sherman THORS eLearning Scholarship is your opportunity to take your career to the next level. This scholarship covers the full cost of an online course through THORS eLearning Solutions, providing specialized training designed for the fastener industry. Don’t miss out! Apply by September 6, 2024. FastenerWomen.com
The Young Fastener Professionals Association Announced their Fastener Training Week Scholarship. The deadline to submit your completed application is October 15. Go to NFDA-fastener.org
The stories featured in this week’s episode of IN THE NEWS can be found at Fastener News Desk or in our feed @FastenerNews at X.com the twitter rebrand, on LinkedIn in the Fastener News Group and @FastenerNews at Threads!
If you would like to share your company’s news or events contact me, lisa@fastenernewsdesk.com.
Thanks for tuning in to this week’s episode of ‘IN THE NEWS’ with Fastener News Desk.
Until next week, be well and keep it fastenating.
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